Capstead Mortgage Corporation Declares Dividends on Its Preferred Stocks
DALLAS--(BUSINESS WIRE)-- The Board of Directors of Capstead Mortgage Corporation (CMO) announced today that it will pay the regular quarterly dividend of $0.40 per share on the $1.60 Cumulative Preferred Stock, Series A (NYSE: CMOPRA), and the regular monthly dividend of $0.105 per share on the $1.26 Cumulative Convertible Preferred Stock, Series B (NYSE: CMOPRB). The dividends are payable on December 30, to stockholders of record as of December 19, 2011.
Holders of the Series A and B preferred shares may convert into shares of the Company's common stock at any time; however, currently it is not economically advantageous for the Series B stockholders to do so. Each Series A Preferred share is currently convertible into 1.6545 shares of common stock. Each Series B Preferred share is currently convertible into 0.6392 shares of common stock.
Any conversion requested after one or more preferred record dates within the quarter and on or before the record date for the quarterly common stock dividend will require payment to the Company of all preferred share dividends declared and paid for the corresponding quarter.
Capstead Mortgage Corporation, formed in 1985 and based in Dallas, Texas, is a self-managed real estate investment trust for federal income tax purposes. Capstead earns income from investing in a leveraged portfolio of residential mortgage pass-through securities consisting almost exclusively of adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored enterprises, either Fannie Mae or Freddie Mac or by an agency of the federal government, Ginnie Mae.
Capstead Mortgage Corporation
Kelly Sargent, 214-874-2339
Source: Capstead Mortgage CorporationCopyright Business Wire 2011